Zell discusses sale of L.A. Times with Geffen

(Crain's) -- Sam Zell has spoken with David Geffen about a deal for the Los Angeles Times, the Washington Post has reported.

Mr. Geffen is optimistic that he could gain control of the Times through a spin-off deal of joint venture partnership, the Post said, citing "a source familiar with Geffen's thinking."

A deal for the Times would contradict previous statements by Mr. Zell, whose $8.2 billion bid for Tribune Co. was accepted Monday. Mr. Zell has said he doesn't intend to break up Tribune's assets, aside from selling the Chicago Cubs by the end of 2007.

Messrs. Zell and Geffen have discussed a deal for the Times since Monday's announcement.

"Yes, I continue to want to buy the Los Angeles Times," Geffen said in an interview yesterday, according to the Post.

Tribune Co. owns several newspapers including the L.A. Times, the Chicago Tribune and Newsday, plus the Cubs and about two-dozen TV and radio stations.

A Tribune spokesman did not immediately return a call seeking comment.